BROOKWOOD, Ala.--(BUSINESS WIRE)--
Warrior Met Coal, Inc. (“Warrior”) (NYSE: HCC) today announced that its
board of directors has declared a special cash dividend (the “Special
Dividend”) of $11.21 per share of Warrior’s common stock, par value
$0.01 per share. The Special Dividend, totaling an aggregate payment of
approximately $600.0 million, will be paid on November 22, 2017, to
stockholders of record as of the close of business on November 13, 2017.
The Special Dividend will be funded through cash on hand, together with
the proceeds of Warrior’s previously announced offering of $350.0
million 8.00% Senior Secured Notes due 2024.
Warrior is a large-scale, low-cost U.S. based producer and exporter of
premium hard coking coal (“HCC”) operating highly efficient longwall
operations in its underground mines located in Alabama. The HCC that
Warrior produces from the Blue Creek coal seam contains very low sulfur
and has strong coking properties, and is of a similar quality to coal
referred to as the premium HCC produced in Australia. The premium nature
of Warrior’s HCC makes it ideally suited as a base feed coal for steel
makers and results in price realization near the HCC industry average
index price. Warrior sells all of its met coal production to steel
producers in Europe, South America and Asia. For more information about
Warrior Met Coal, please visit www.warriormetcoal.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20171102006734/en/
Warrior Met Coal, Inc.
Analysts and Investors, contact:
Dale
W. Boyles, 205-554-6129
or
News Media, contact:
William
Stanhouse, 205-554-6131
Source: Warrior Met Coal, Inc.